City
Epaper

Tech Mahindra posts 1.2 pc revenue drop in Q1, PAT up 23 pc at Rs 851 crore

By IANS | Updated: July 25, 2024 17:50 IST

Mumbai, July 25 Global IT services and consulting provider Tech Mahindra on Thursday reported a 1.2 per cent ...

Open in App

Mumbai, July 25 Global IT services and consulting provider Tech Mahindra on Thursday reported a 1.2 per cent decrease in revenue for the April-June quarter (year-on-year) at Rs 13,005 crore.

On a quarterly basis, the revenue went up 1 per cent for the IT company.

The consolidated PAT was at Rs 851 crore, up 23 per cent (YoY), for Q1 FY25, while EBITDA reached Rs 1,564 crore, up 16.9 per cent YoY.

The company reported total headcount at 147,620, down 677 annually, for the June quarter.

Tech Mahindra's stock closed marginally up at Rs 1,540 apiece on Thursday.

"It is encouraging to see positive momentum in most industry verticals which has led to revenue growth and margin expansion in an otherwise seasonally weak quarter. We continue to focus on execution and are on track to achieve our stated goals for FY27," said Mohit Joshi, CEO and Managing Director, Tech Mahindra. According to Rohit Anand, CFO, Tech Mahindra, the Q1 results are a positive start, both for the current turnaround year as well as for their medium-term strategy.

"Our focus continues to be on investing in the business for long-term sustainable performance," he added.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Open in App

Related Stories

InternationalKazakh President urges careful planning, balanced budget

EntertainmentDulquer Salmaan releases 'Thanilokah Murakkaari', the anthem of Malayalam cinema's first woman superhero film Lokah!

InternationalPakistan: Internet services restored nationwide after disruption following heavy rainfall

MumbaiShah Rukh Khan Gets Emotional, Introduces Aryan's at Event of Ba*ds of Bollywood Says, 'Mera Beta Apna Pehla...' (Watch Video)

CricketYuzvendra Chahal Shares Cryptic Post After Ex-wife Dhanashree Verma’s Recent Remarks on Podcast: “A Million Feelings, Zero Words”

Technology Realted Stories

TechnologyIndia’s workforce goes AI-first as frontier firms lead transformation: Report

TechnologyEurope sets new records for mosquito-borne West Nile virus, chikungunya disease: ECDC

TechnologyHydrogen at $1 per kg can make India an energy exporter: Nitin Gadkari

TechnologyStarlink joins hands with UIDAI for Aadhaar-based customer verification in India

TechnologyStudy shows omega-3 fatty acids may protect women against Alzheimer’s